Social Security Trust Funds Protection Act
Last action on Mar 24, 2005Referred to the Subcommittee on Social Security.
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Summary
The Social Security Trust Funds Protection Act (H.R. 1330) is a legislative proposal designed to ensure that payroll taxes and other revenues dedicated to Social Security are used exclusively for the program’s existing benefit structure. The bill would explicitly prohibit these funds from being diverted to create or subsidize private investment accounts. For the average citizen, this means the bill seeks to safeguard the current Social Security system by preventing the use of its trust funds for any alternative retirement savings models.
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